St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-06-21
THE KERsHAw FAILURE.
1t Will Result in a Series of
Legal Fights.

CHICAGO, June 20.ICharles j. Ker~
shaw filed bill in the superior court
this morning against his partners, .
Messrs. Dewar & Eggleston. The bile
asks to have the partnership dissolved:
all accounting order granted and rel
ceiyer appointed. The court appointeds
POrteus Il. b. Weare receiver, and that
gentleman filed $4,000 bond. Joseph
+. Hill and Adolph Flertzheim, of Mil
waukee, Wis, filed bill of complaint
against Charles J. Kershaw, Hamilton
Dewar and Charles B. EggleSton, copart-
nerS under the name of G. j. Kershaw,
q Co., in the United States district
court to-day. The suit is brought in be-
half of all the creditors of the limited
partnership of Kershaw & Co., who may i,
elect to come in under this bill and to
become parties to the suit against Ker-
shaw, Dewar, Eggleston, the American
Exchange National Bank of Chicago, /,
DIR. Irwin, president, A. w. Green andt
Alexander Dewar. The bill alleges that
Kershaw, Dewar and EggleStOn formed
limited partnership Oct. 20, 1856, Eggles-
ton being the special partner, and that
and that the partnership began Nov. /,
1886, and will end Nov. 1, 1891, unless
terminated by the death of one of the
cO-partners; that the firm contracted to |;
deliver large quantities of wheat ins
May, June and July, 1887. and incurrede
pecuniary obligations to the sum of
81 ,000, 900; that its capital stock, prop
erty, assets and effects were of muchI
less value than the amount of its debts
and liabilities, and wholly insufficient
to pay the same in face or pay more /:
than about 80 cents ON the dollar, and
that the firm for several days prior
thereto had great difficulty in paying;
its debts, and that the insOlv-!
ency was then known to the MEM;
berS of the firm. The bill further
says that the petitioners have had large
transactions with the firm, and that on;
June 16 the partnership was indebted;
to them in the sum of 100000. 1t;
is charged that Kershaw & Co. unlaw-
bank about $780, 900; Irwin, Green 81
Co., 100000; Charles 3. Eggleston, the:
special partner, S10O, 600; David w. IT.
win, 5000, 600, and Alexander l.. Dewar,i
100000. The petitioners ask that re-
ce1ver be appointed. They also charge;
that KerShaW d Co. have in their posses
sion grain and assets to the amount of;
100000, and say that unless receiver is /
at once appointed the property is liable
to be seized. The bill also says that the
sum of $500, 000 is due the American
Green d Co., which is liable to be gar
nlsheed; that certain debtors deposited!
in the American Exchange Nationals
bank, about June 16, $500, 600, and that
of that amount the bank now
has between 100000 and 100000 in!
its vaults. The bill also asks.
that Kershaw, Dewar, EggleSton, the !
American Exchange National bank, D.
W. Irwin and A. L.. Dewar, their at.
torneys, Or agents, be enjoined from
paying to any person or persons any,
money that may come into their possess
sion. AS soon as the Announcement
was made that a receiver had been ap-.
pointed for G.. j. Kershaw & Co., the
meeting of the creditors which was to-
have taken place this afternoon, was
declared off. The creditors will meet
to hear the report of the receiver as
soon as he can arrive at some conclusion
as to the assets and liabilities of the.
bankrupt firm. This may take week.
There has never been failure on the
board of trade so full of complications
as this, and town meeting to talk over
the assets can only result in pairing
down of the final dividends. Fleming
d BOyden have commenced suit against
G. j. Kershaw in the supreme court for
cS0 0QO